Thursday, August 04, 2005

Downtown & Uptown Real Estate News


In Dallas, more people are moving on Uptown
Luxury high-rises have become a status symbol

DALLAS (Dallasnews.com) - As a sportscaster for CBS and the USA Network, Bill Macatee spends a lot of time in big cities. He's an urban guy who loves the buzz. So when he came to town in May for the Byron Nelson golf tournament, he stopped by the marketing center for Azure, which opens next year. Within 20 minutes he had put down a deposit on a two-bedroom.

Luxury, convenience and cachet are the mantra of Uptown high-rise living, where prices start around $500,000 and soar well into seven figures. Mr. Macatee already owns houses in California and Utah, but jumped at the chance to "have something in Dallas," where he got his start at WFAA-TV (Channel 8) in the early 1980s.

A surprising number of Dallasites are doing the same thing. After decades of discreet upward mobility, Uptown has exploded with more than a dozen luxury high-rise projects, ranging from the unapologetically modern W and Azure to the sedate Residences at the Ritz Carlton and the edgy, freeway-hugging Mondrian.
"Frankly, I was surprised to find something that sophisticated here," Mr. Macatee says. "The city seems to be growing up."

Image inset: Courtesy; A private swimming pool with wall fountains and a lounge/wading area is a selling point of The Azure.